Global Document Management System Market Overview:
A document management system (DMS) also known as a content management system is an automated software solution for organizing, securing, capturing, digitizing, tagging, approving, and completing tasks with business files. These systems store data in the cloud as well as are capable to centralize the storage, extraction, and utilization of the organized as well as unorganized documents of any organization. This enables an organization to operate efficiently by assuring easy access and retrieval of important documents. The rising need to streamline business operations and have the benefits of digitalizing content across organizations will drive the global document management system market size in upcoming years. According to AMA, the Global Document Management System market is expected to see growth rate of 10.75%
Growth Drivers
- Growing Need to Streamline Business Operations
- Advantage of Digitalizing Content Across Enterprises
- Need to Adhere to Compliance Requirements
Market Trends
- Adoption of Cloud-Based Services and Cloud Computing
Roadblocks
- High Implementation Costs
Opportunities
- Integration With Client And Employee Portals
- Initiatives From Organizations To Reduce Paper Wastage
Challenges
- Data Migration From Legacy Systems to Cloud-Based Content Management
Competitive Landscape:
Some of the key players profiled in the report are OpenText Corporation (Canada), Xerox Corporation (United States), IBM Corporation (United States), eFileCabinet Inc. (United States), SpringCM (United States), Oracle Corporation (United States), Hyland Software Inc. (United States), Ricoh Company Ltd. (Japan), Asite Solutions (United Kingdom) and Hyland Software Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like M-Files (United States), Efilecabinet (United States), Newgen Software (India), Alfresco Software, Inc. (United States), SpringCM (United States), DocuWare (Germany) and DocStar (United States). Analyst at AMA Research see United States and European Players to retain maximum share of Global Document Management System market by 2026. Considering Market by Deployment, the sub-segment i.e. Cloud-based will boost the Document Management System market. Considering Market by Organization Type, the sub-segment i.e. Large Enterprises will boost the Document Management System market. Considering Market by Offerings, the sub-segment i.e. Solutions will boost the Document Management System market.
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What Can be Explored with the Document Management System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Document Management System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Document Management System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Document Management System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Document Management System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Document Management System Providers, Cloud & IT Service Providers, System Integrators & Third-Party Vendors, Technology Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End User Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.